BERLIN: Germany wants to push ahead with a European banking union, a finance ministry spokesman said on Wednesday, possibly in two stages as EU treaty change would be required to create a Europe-wide banking resolution authority.
Martin Kotthaus told a regular government news conference that Germany hoped to complete talks on setting up a European resolution mechanism by the summer break and much could be achieved on the basis of existing EU agreements.
"For a new central (banking resolution) authority, we would need treaty change because there is no enabling power for such an authority," said Kotthaus.
"It must be completely watertight."
indiatimes.com
Martin Kotthaus told a regular government news conference that Germany hoped to complete talks on setting up a European resolution mechanism by the summer break and much could be achieved on the basis of existing EU agreements.
"For a new central (banking resolution) authority, we would need treaty change because there is no enabling power for such an authority," said Kotthaus.
"It must be completely watertight."
indiatimes.com
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